Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
UJJIVAN FINANCIAL SERVICES - BUY
CMP – Rs 403.7
STOP LOSS – Rs 385
TARGET – Rs 435
Ujjivan has been consolidating since a while between 380-400 levels, good volume is witnessed , looks likely to cross the 200DMA at 407 levels, a decisive move past 407 bring in further strength for an up move to a target of 435, we recommend a BUY.
IDFC BANK – BUY
CMP – Rs 61.5
STOP LOSS – Rs 57.5
TARGET –Rs 68
IDFC Bank has made higher bottom formation, also given a breakout above 60.5 with very high volume & favorable indicators, This stock is ready for a take off to higher levels, we recommend a BUY.
INFOSYS – BUY
CMP - Rs 925
STOP LOSS – Rs 890
TARGET – Rs 960
INFOSYS has nearly made triple bottom at 900 levels with a positive divergence on RSI on daily chart, the risk reward looks favorable to buy this stock with stop loss of 890 for a bounce back.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
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